SIP Insurance Plan Benefits
Start SIP with as low as ₹1000
No hidden charges
Save upto ₹46,800 in Taxunder section 80C^
Zero LTCG Tax¶
Disciplined & worry-free investing
Best SIP Plans in India in 2024
In 2024, the best SIP plans in India offer great scope of returns, low expense ratios, and consistent performance. There is a wide range of SIP-based investment options available in Unit Linked Insurance Plans (ULIPs) today. Let us take a look at the list of best SIP plans to invest in 2024 in India:
- Insurance Companies
- Mutual Funds
ULIP vs Mutual Fund: When to Choose ULIPs and When to Choose Mutual Funds
Investors are always confused about how to choose between ULIP and mutual funds-based investment plans, as both these SIP investment options offer different benefits.
To choose between ULIPs and mutual funds depends on your priorities.
-
If your primary goal is wealth creation with flexibility and potentially higher returns, mutual funds are the way to go. They offer diverse options for short, medium, and long-term goals, with varying risk levels and easy entry and exit.
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However, if you also seek life insurance coverage and prefer a long-term, disciplined investment approach, ULIPs can be a good fit. They provide a safety net for your loved ones while building wealth.
Ultimately, the best choice depends on your individual financial needs, risk tolerance, and investment horizon.
Feature |
When to choose ULIPs |
When to choose Mutual Funds |
Main goal |
Insurance + Investment |
Investment Only |
Good for |
- Building wealth with life cover
- Need less stress during market volatility
|
- Seeking higher potential returns
- Have knowledge and expertise to manage market volatility
|
Consider if |
Need life insurance along with good investment returns |
want separate life cover |
Investment horizon |
5 years to long-term |
Short-term to Long-term |
Risk |
Moderate to high |
Generally higher |
When to choose ULIPs?
- Looking for medium to long-
term investment
horizon
- Want to grow wealth while
securing family future
- Have a low to medium
risk appetite
- You want to save on
your taxes
- Want less stress during market
volatility
When to choose Mutual Funds?
- A short-term or a
medium-term investment horizon
- Want to only grow wealth
- Have a high or medium
risk appetite
- Want high liquidity with no tax
saving
- Have knowledge & expertise to
manage market volatility